Gilat Reports Q2 2020 Results

Petah Tikva, Israel – August 31, 2020 – Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, today reported its results for the second quarter ended June 30, 2020.

Key Financial Highlights:
• Revenues for Q2 2020 totaled $38.3 million compared with $59.7 million for Q2 2019.
• Q2 2020 – GAAP operating loss was $3.5 million compared to operating income of $4.9 million in Q2 2019. Q2 2020 Non-GAAP operating loss was $2.6 million compared to Non-GAAP operating income of $6.3 in Q2 2019.
• Q2 2020 GAAP net loss was $4.2 million, or loss of $0.08 per diluted share, compared with net income of $3.4 million, or income of $0.06 per diluted share in Q2 2019. Q2 2020 non-GAAP net loss was $3.3 million, or $0.06 per diluted share, compared with net income of $4.8 million, or $0.09 per diluted share, in Q2 2019.
• Q2 2020 Adjusted EBITDA was $0.1 million compared with Adjusted EBITDA of $8.9 million in Q2 2019.

Gilat Awarded Over $10 Million for a Five-Year Service Project for 4G Backhaul Services in Latin America

Contract calls for providing coverage to half a million people in rural areas, with significant expansion potential valued at additional tens of millions of dollars over time

Petah Tikva, Israel, August 10, 2020 — Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announces the award of over $10 Million for a five-year service project for 4G backhaul services in Latin America. The contract calls for providing coverage to half a million people in hundreds of sites in rural areas, with significant expansion potential valued at additional tens of millions of dollars over time.

Gilat is working closely with the government and the private sector to provide connectivity this year to hundreds of villages via the 4G network. Gilat is heavily engaged in supplying the population with broadband connectivity and access to applications such as e-health and e-education. Furthermore, four hundred additional villages are expected to be connected next year.

US Tier-1 Mobile Operator Awards Gilat a Multi-Million Dollar Service Contract for Cellular Backhaul

Gilat completed the LTE cellular backhaul satellite migration project according to schedule, during these challenging times imposed by the COVID-19 pandemic

Petah Tikva, Israel, August 6, 2020 — Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announces the award by a Tier-1 Mobile Network Operator (MNO) in the United States, of a multi-million-dollar service contract for cellular backhaul.

Africa Mobile Networks (AMN) Extends Gilat’s Contract of Powering Africa’s Largest Satellite Cellular Backhaul Network

AMN’s network enabled by Gilat’s technology serves multiple Tier-1 Telcos in over ten countries throughout Africa

Petah Tikva, Israel, August 3, 2020 — Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announces the extension of Gilat’s contract with Africa Mobile Networks (AMN) to power the largest satellite cellular backhaul network in Africa. AMN’s network enabled by Gilat’s technology serves multiple Tier-1 Telcos in over ten countries throughout Africa.

“AMN has selected Gilat, due to its superior technology, to further extend Africa’s largest satellite cellular backhaul network constructed by AMN and powered by Gilat’s VSAT technology,” said Michael Darcy, CEO AMN. “We are pleased to contribute to closing the digital divide by furthering the reach of our network to additional countries reaching more of the population in rural areas.”